Privilege card may go private

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Privilege card may go private

Thailand Privilege Card's board will decide on January 26 how the company should be transformed, either to retain state enterprise status or be changed into a private firm.

Tourism and Sports Minister Suvit Yodmani said yesterday that there could be discussions on the card-holding period as well as whether the price should be increased.

Earlier, Deputy Prime Minister and Finance Minister MR Pridiyathorn Devakula said TPC should be dissolved as it had sold 1,900 cards but accumulated losses of over Bt800 million. However, after a review Suvit said that dissolution was out of question as Thailand risked lawsuits from the members which could incur over Bt10 billion in compensation. - The Nation.

Growth of 4-5%

The Finance Ministry is confident that Thailand's economy will expand 4-5 per cent this year, despite the Bangkok bomb blasts. The Bank of Thailand earlier said it would unveil a new economic growth forecast on January 26 which would be revised downwards from the original target.

Spokesman Somchai Sajjapongse also said that he believed the Bank of Thailand would soon lift the 30-per-cent capital-reserve requirement, following a series of relaxations. - The Nation.

Philippine foray

Singha Corp considers the Philippines to be a good market for its health drinks.

"The Philippines is a potential market for our health drinks because like other Asian countries it is a health-conscious market," said Chaiyapat "Chappy" Chaturongkul, deputy CEO, according to the Sun Star newspaper.

Singha is hoping to capture a good market for its soda products, drinking water, coffee and Moshi green tea, which will be introduced to the country this year, the paper reported.

Since the launch of its beer last December, Singha has generated positive feedback from local beer-drinkers, said ThaiPhil International president Pongpot Hiranpruck.

"We are getting a lot of inquiries for orders, especially in hotels and supermarkets," Pongpot said. He said Singha would not compete with leading local beers since the company was positioning Singha to compete with imported brands that target high-end drinkers.

"It aims to provide beer aficionados with an alternative," Chaturongkol said. - The Nation.

Raimon bonds

Raimon Land will issue Bt2.7 billion worth of bonds for sale to no more than 10 investors and Lehman Brothers Commercial Corporation Asia.

The 18-month secured bond carries an interest rate of 3 percentage points above commercial banks' minimum lending rate. The bond is redeemable before maturity. - The Nation.

Headlines News
The Nation Thailand
Saturday January 20, 2007